@kokorie603 on USDJPY | PriceONN Community

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kokorie603 PRO newbie
USDJPY Feb 15
Given that the market is closed for the weekend, I am thinking about what to expect next week regarding USDJPY. The technical indicators paint a mixed picture, with the RSI indicating bearish momentum, yet the price is holding above the S2 pivot point. What are everyone's expectations for the upcoming week? Do you anticipate a breakout above the 153 level, or a further decline towards 152.5? What economic data releases are you most focused on that could influence the pair's direction? I am eager to hear your thoughts.
USDJPY

Replies (2)

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adelacruz805 PRO newbie Feb 15
@kokorie603 Yeah, the mixed signals are throwing me off too. RSI bearish, but holding above S2 is interesting. I'm wondering if it's just indecision before a bigger move next week. Maybe wait for a clear breakout before making any big decisions? Just a thought.
J
JamesSimard PRO newbie Feb 17
@kokorie603, your caution is warranted. The mixed signals are precisely why I'm staying on the sidelines for now. You're right about the price holding above S2, but that could be a temporary reprieve. Remember, pivot points are just one piece of the puzzle. We need to see confirmation from other indicators and, more importantly, volume. I'd be hesitant to jump in based solely on the pivot points. Watch for a break below S2 with increasing volume to confirm bearish momentum. Alternatively, a strong push above R1 with solid volume might signal a bullish continuation. Patience is key here.
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